2020-24 Global aircraft engine cable market increased by about 3% compound annual growth

Technavio, an international market research institution, recently released a report that the global aircraft engine electrical wiring harness and cable assembly market size is likely to grow by $110 million during 2020-2024, with a compound annual growth rate of nearly 3%.

Overall, increasing demand for aircraft due to globalization, growing trend towards faster and more reliable transportation, which is the major reason
contributing to the growth of this market.
At the same time, increased demand for energy efficiency is encouraging commercial aircraft OEMs to develop next-generation aircraft to reduce carbon emissions and improve fuel efficiency
.
The growing demand for next-generation aircraft will also be one of
the major growth drivers for the aircraft engine electrical wiring harness and cable assembly market.

On the other hand, the demand for air travel is increasing
due to the increase in personal disposable income and the improvement of the economies of countries such as China, India, Russia, and the United States.
This, in turn, will increase the demand for aircraft engine electrical wiring harnesses and cable assemblies, thereby driving the market growth
.

However, the outbreak of the novel coronavirus in 2020 and the adoption of varying degrees of lockdown policies by various countries in order to contain the spread of the virus have severely affected the aviation market, which will significantly affect the growth
of this market during the forecast period.

In 2019, Europe was the largest market for aircraft engine electrical wiring harnesses and cable assemblies in 2019, and the region will provide some growth opportunities
for market vendors during the forecast period.
The presence of a strong aerospace manufacturing infrastructure will significantly drive the growth
of the aircraft engine electrical wiring harness and cable assemblies market in the region during the forecast period.

According to the report, 36% of the market growth will come from Europe
during the forecast period.
France and Germany are the main markets
in the region.
However, in terms of growth rate, the market growth in Europe will be slower than the growth of the market in the Asia-Pacific region
.

Judging by the type of aircraft, turbofan engines are more
efficient than turboprop engines.
Trufan technology is gaining popularity in both wide- and narrow-body airliners due to its superior efficacy
in fuel consumption and CO2 emissions.
This will increase the demand for advanced engine electrical wiring harnesses and drive the growth prospects
of this global market.

In terms of raw materials, manufacturers are increasingly using parts and components
based on carbon fiber reinforced polymers (CFRPs).
The development of CFRP-based wire harness brackets is one of the key cable assembly market trends that will drive the growth of
this market.
For example, STFC Innovations is developing CFRP-based electrical or data harness brackets that can be used in a variety of aerospace applications
.
The application of CFRP will help reduce the space requirements
for aircraft wiring harnesses and aircraft equipment racks.